Kalif Raymond contract details: Detroit Lions create extra 2023 cap space

On Friday, the Detroit Lions and wide receiver/punt returner Kalif Raymond agreed on a new contract extension, adding two years and $10 million—including over $8 million in guarantees—onto his existing deal. While the new contract added dollars and years onto his deal, it actually saved the team salary cap space this season.

Raymond was entering the final year of his contract and was originally slated to cost just over $3M against the 2023 salary cap. But after being named to the NFL’s 2022 All-Pro team as a punt returner, an escalator was activated in his contract, awarding him with an additional $1M bonus, and a new salary cap hit of just over $4M—the highest salary cap hit amongst the wide receiver group at the time.

But as typically happens with contract extensions, the overall deal is backloaded, and in turn, is structured in a way that lowers Raymond’s current cap hit, reducing it from just over $4M down to just under $2.8M in 2023.

Here’s how the deal breaks down (figures via Over The Cap):

2023

Base salary: $1.35M (fully guaranteed)
Signing bonus: $1.375M
Workout bonus: $50,000
Cap hit: $2,775,000

2024

Base salary: $1.4M (fully guaranteed)
Signing bonus: $1.55M
Per game bonus: up to $250,000
Workout bonus: $50,000
Cap hit: $3,250,000

2025

Base salary: $4.35M
Signing bonus: $1.55M
Per game bonus: up to $250,000
Workout bonus: $50,000
Cap hit: $6,450,000

*Note: In 2025, Raymond only has his signing bonuses ($3.1M) in guarantees remaining.

2026 (VOIDED year)

Cap hit: $1.55M

In the end, the Lions save money in the immediate season while securing one of their hardest working player on the roster. While Raymond gets rewarded with a multi-year contract and more guarantees and security. Another win-win contract for everyone involved.